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Comcast Ventures Is Friends with Zenefits

Comcast Ventures, the investment arm of Comcast, said it has invested in Zenefits, maker of a cloud-based human resource automation platform that reportedly notched a $500 million “C” round.

Comcast Ventures did not disclose the amount of the investment in Zenefits, which announced the round on May 6, noting that the funding, led by Fidelity and TPG, was raised at a post-money valuation of $4.5 billion.

Zenefits makes a cloud HR platform that automates administrative work such as compliance, payroll updates, health insurance and other employee benefits, and targets that to businesses with up to 1,000 employees. Founded in 2013, San Francisco-based Zenefits has raised $583 million so far, according to CrunchBase.

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